Earnings Results: BlackBerry’s third quarter tops Wall Street’s earnings expectations

Cybersecurity and Internet-of-Things company BlackBerry Ltd. late Tuesday reported quarterly results that topped Wall Street expectations, although shares did little in after-hours trading. BlackBerry BB, +0.97% reported a third-quarter loss of $4 million, or a loss of 9 cents a share on a diluted basis, versus net income of $74 million, or a loss of

Financial Press

Published

December 21, 2022

earnings-results:-blackberry’s-third-quarter-tops-wall-street’s-earnings-expectations

Cybersecurity and Internet-of-Things company BlackBerry Ltd. late Tuesday reported quarterly results that topped Wall Street expectations, although shares did little in after-hours trading.

BlackBerry BB, +0.97% reported a third-quarter loss of $4 million, or a loss of 9 cents a share on a diluted basis, versus net income of $74 million, or a loss of 5 cents a share on a diluted basis, in the year-ago period. The adjusted loss, which excluded stock-based compensation expenses and other items, was 5 cents a share basic, as the company did not provide a diluted per-share figure.

Revenue declined to $169 million from $184 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast a loss of 8 cents a share on revenue of $164 million.

“Our IoT business has strong momentum and delivered a record quarter for design phase revenue, driven largely by design wins in core safety-critical auto and general embedded domains,” said John Chen, BlackBerry’s chief executive and chairman, in a statement. “It was also a strong quarter for product development, including a significant announcement with [Amazon Web Services] for QNX to be made available in the cloud.”

Shares declined less than 1% after hours, following a 1% gain in the regular session to close at $4.15.

In this article:

Stocks

BlackBerry, Oracle, Kroger are stocks to watch

SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Thursday’s session are BlackBerry Ltd., Oracle Corp., and...

Financial PressDecember 21, 2022

piedmont-lithium-adds-two-new-directors-to-board;-stock-soars

Mining

Piedmont Lithium adds two new directors to board; stock soars

NAL spodumene concentrate production remains targeted for H1 2023 with revenue potential in Q3 2023. Credit: Piedmont Piedmont Lithium (Nasdaq: PLL; ASX: PLL) announced...

Financial PressJanuary 4, 2023